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Archive for April, 2007
Money Service Businesses (MSBs) – FinCEN U.S. Ruling
4 Comments Exchanger Speculation, Ecurrency ThoughtsWhat is and is not considered a Money Service Business (MSB) operating within the U.S.? The Financial Crimes Enforcement Network (FinCEN) of the U.S. Department of the Treasury has made a ruling. You can read it here.
Just like most government issued documentation, it is hazy and leaves a lot open for interpretation. I am not a lawyer, but I do have an opinion on what they are defining as an MSB operating in the U.S.
After posting a comment to Jude’s late January post about A3Union, I was again struck by the ongoing and unanimous success it and the more sophisticated HYIP scams like it experience. Once a novelty, such programs have become much more commonplace over the past year or two as scammers adapt the working of their craft to a (only slightly) more discriminating and educated potential member pool. The outspoken advocate of investor - or gambler, if you prefer - education that I am, I think recognizing what it is that certain programs have in common, loosely categorizing them and analyzing them on that basis is of paramount importance for understanding the world of HYI (a generic label that encompasses HYIPs, surfs, and so on). Profit - and survival, for that matter - do not come without understanding, so anyone looking to make money online by unconventional means will have to do some considerable thinking. So, put your thinking cap on for a moment and follow me into the slick and sordid muck of what I call legitimation scams.
Many important changes happening in Club-FX Trader, as Peter updates after a weekend break.
Hi all,
Well, LightHalzen, a bit of fun that has hit megastar status very quickly, is nearly back after a site retooling.
I am looking forward to it as the only ‘game’ I actually bother to indulge in anymore, and the way they have grown is really quite phenomenal.
So far, they have stuck to their deadlines, and they’ve added some other revenue streams with their relaunch:
If you’ve checked out NoBS Network, then you know that this blog and the NoBS Forex blog have posts in the forum. The updates are done automatically with RSS feeds that put the article and a snippet in the forum.
I spent 5 hours on the phone and in conference with Craig, Kerry and Troy discussing the concerns brought up in the comments on the review and interview articles. I hope that this article will alleviate some of the concerns about EarnByLoaning. I understand that there will always be people who will be positive, negative or neutral. This article is intended to clarify some issues, not to persuade anyone that has already made up their mind. As with any program, please seek multiple sources of information and do your own verification to determine if a program is for you or not. (ADD Warning: This is another one of my long articles!)
General
I asked Craig why he is borrowing from people, rather than a bank. He replied that in order to get a bank loan, he would have to secure it with assets. In addition, there are FDIC (US alphabet commission that regulates banking) guidelines that prohibits a bank from loaning for investments of this nature.
(more…)
Popularity: 4% [?]
I’ve blogged an article on the current batch of debit cards which might be having problems again, but Goldex card seems to be okay.
Matt from AdsOnCommand feedbacks on the card
Matt: really?
Matt: well
Jude: is yours having problems?
Matt: i’ve used it every week since i got it and no problems
Matt: last night i loaded it at 12:30 am
Matt: it was funded and on the card by 1:30
From Noponzi comes an update with Global Forex Club having problems,
I was testing this private program with a minimum amount of money, and now I don’t recommend you to invest in it. I have removed it from my portfolio: they had more than 50% in losses before and there are not news from the Admin of this program since March.
From Drunk’s World article, Global Online Depository is under SEC Investigation now. As Leo mentioned, it doesn’t really come as a surprise to me either on the scale that they’re raising funds for their business.
In the official SEC complaint pdf , the SEC has issued the owners of GOD a “cease and desist” from offering to sell unregistered securities in both North Dakota and Pennsylvania. With the SEC involved, chances are likely that this will not go in the way of its investors.
Apparently BestGoldCard is having problems again with this new batch of cards, and we aren’t sure which new ones has problems as well.
From Noponzi blog,
As you know, some months ago, all debit cards to withdraw your funds through cirrus/maestro ATM,s were terminated. I hope that these new “VISA” cards will not suffer the same problems.
An answer from bestgoldcard:
Another reason why I’ve joined Dan at Life Holdings. He’s a person whom balances work and relationship well.
Hello.
Intense events - braking up with my girlfriend, agitated relatives coming over unannounced, close friends with problems seeking advice from me and the list just goes on like that - have successfully and completely disrupted my otherwise perfectly planned weekly schedule. I confess I am ecstatic this week is finally over! Now I can move on and look forward to having a better week next week
I originally posted this at HYIPRanks, but thought I’d reproduce it here as a post, if Jude gives the OK, of course:
The popularity of an online payment system can be recognized by the tools and convenient options it provides users. Webmoney Transfer is light years ahead of other systems in popularity, convenience and advanced financial options.
Here are some example of useful tools which are offered by Webmoney Transfer.
WM Services (English)
I’m not gonna comment too much about him coming back; but previous members of TFT/XLO should be aware of what he did before venturing and giving his new offer a try.
It’s a strict no no for me.
Popularity: 2% [?]
Infinity Shares update on the changes and the reason why. Existing members should look at I-S as a long term venture and understand the changes that has to be done.
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You are currently browsing the No Bullshit HYIP Blog, A Part of No Bullshit Network weblog archives for April, 2007.
Longer entries are truncated. Click the headline of an entry to read it in its entirety.nobsLatest
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